New York Regulator Says Stablecoins ‘Must Be Fully Backed’
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New York’s financial services regulator has issued new guidance on stablecoins, laying out its expectations from issuers operating in the state Stablecoins are to be fully backed by a reserve of…
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Key Highlights HKMA issues its first stablecoin licences to HSBC and Anchorpoint Financial Limited, marking the rollout of its regulatory regime. Only 2 of 36 applicants were approved, reflecting a cautious approach with a focus on risk management and viable use cases like payments and settlement. Licensed issuers must meet…
Key Highlights Brazil’s Congress approved Bill 4.308/2024 to ban algorithmic stablecoins and require all stablecoins to be fully backed by real reserves. Issuing unbacked stablecoins is now treated as a crime, with violators facing up to eight years in prison. Stablecoins, including USDC and USDT, can only operate in Brazil…
Stablecoins, whose value is either fully backed by safe assets or not, could tie up liquidity in other areas of the traditional financial sector, according to a group of NY Fed economists and... [[ This is a content summary only. Visit my website for full links, other content, and more!…